January 2023 Calgary & Edmonton Rent Report

Looking for our full January 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.

To begin 2023, average rent prices have fallen slightly in Calgary while increasing in Edmonton. As with previous reports for these two Alberta cities, average monthly rental rates are still well below other Canadian cities we report on, such as Vancouver and Toronto. It will be interesting to see where Calgary and Edmonton’s rent prices end up by year’s end as interest rates rise and demand for affordable rentals increases.

Founded in 2015, liv.rent is Canada’s safest rental platform and all-in-one landlord productivity tool. We publish monthly Rent Reports for Vancouver, Toronto, Montreal – and now Calgary and Edmonton as well. After receiving a number of requests, we’ve expanded our reports to Alberta – looking at data from our own liv.rent listings as well as from other popular listing sites in the area. For more information on how we gather data for our Rent Reports, please consult our Data collection methodology.

We’ll soon be releasing our 2023 Canada-wide Report with even more rental data and statistics. For access to this and other updates on the Alberta rental market, be sure to subscribe to our newsletter.

Let’s take a look now at the current rental costs and overarching trends in Calgary and Edmonton for January 2023. Don’t forget, you can download the entire report as a one-page infographic PDF below.

Jump to the following Calgary & Edmonton Rent Report sections:

Average unfurnished vs. furnished rates

Unfurnished vs. furnished rates in Calgary

Both furnished and unfurnished units in Calgary dipped slightly in terms of average rent price this month. Looking at the city as a whole, the average monthly rent for a furnished, one-bedroom unit was $1,655, while for an unfurnished, one-bedroom unit, the average monthly rent was $1,484. This $171 difference means that landlords will, on average, be able to earn a higher profit by renting their units furnished, whereas renters will be able to save on rent by bringing their own furniture.

Unfurnished vs. furnished rates in Edmonton

In Edmonton, average prices for both furnished and unfurnished units increased this January. Furnished units now rent for an average of $1,485 per month, while unfurnished units rent for an average of $1,170. This $315 difference indicates that landlords who are able to rent their units furnished would benefit from doing so, particularly if they plan to rent their units on a short-term basis.

Quadrant/Sector breakdown 

To get a better sense of the cities’ rental prices, let’s now break down both Calgary and Edmonton into their constituent quadrants/sectors. We’ll examine prices for one-, two-, and three-bedroom units, as well as divide each up into unfurnished and furnished for more accurate analysis.

Quadrant breakdown: Calgary

Unfurnished units

• City Centre had the most expensive one-bedroom, unfurnished units this month at a monthly average of $1,649.
• Unfurnished two-bedroom units in Southeast Calgary and City Centre are more expensive to rent than three-bedroom, unfurnished units in Northeast Calgary.
• Southwest Calgary had the least expensive one-bedroom, unfurnished units on average this month.

Furnished units

• For the second straight month, City Centre had the most expensive one-, two-, and three-bedroom, furnished units, on average.
• Northeast Calgary had the least expensive one-, two-, and three-bedroom furnished units this month

Sector breakdown: Edmonton

Unfurnished units

• West Edmonton had the least expensive rent for one- and two-bedroom, unfurnished units this month
• Northeast Edmonton had the most expensive one, two-, and three-bedroom unfurnished units for January 2023
• Northwest Edmonton had the least expensive unfurnished, three-bedroom units

Furnished units

• Northeast Edmonton had the most expensive one-, two-, and three-bedroom furnished units this month
• The least expensive one-bedroom, unfurnished units were found in Southwest Edmonton
• Three-bedroom, unfurnished units rented for an average of $2,100 in both Southwest and Southeast Edmonton

Downloadable resources

Make Zoom calls fun and informative when you use the latest rental averages and trends as your virtual background.

Rental resources for Alberta renters

You can read these comprehensive guides for more information on renting in Alberta and using liv.rent to streamline your rental process.

• FAQ: Landlord & tenant responsibilities in Alberta
• FAQ: Everything you need to know about rent deposits in Alberta
• The Complete User Guide To liv.rent For Landlords & Property Managers
• The Ultimate Renter’s Guide To Using liv.rent

Data collection methodology

Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites – looking at available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

When collecting this data, we do exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means that we only consider the current month’s listing, since we can filter out duplicate listings and older ads that haven’t been removed.

Another key difference between our data collection methods and some government agencies like the CMHC is that we only include current asking rent prices. Many official reports will include data for entire buildings in their reports, which tends to skew numbers lower since many units are already occupied, and may be rent-controlled or rented for significantly lower than the current rates.

As we are a Canadian rental platform founded and based in Vancouver, we want to ensure that we’re providing a completely accurate depiction of the rental market in the cities we look at.

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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:

December 2022 Metro Vancouver Rent Report
December 2022 Toronto Rent Report
December 2022 Calgary & Edmonton Rent Report
December 2022 Montreal Rent Report